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Buying foreign currency=illegal???

  • #21
  • Oct 13, 2008 8:26am Oct 13, 2008 8:26am
Quoting euclid
From today's news:

"Individuals can now only purchase foreign currency in Iceland on proof of a valid travel ticket overseas, and firms must apply to the Central bank proving they want the money for essential foreign purchases such as food, fuel and medicine."
well, i am not surprised that ICEland has frozen their currency exchange.
  • #22
  • Oct 13, 2008 11:50am Oct 13, 2008 11:50am
Quoting euclid
From today's news:

"Individuals can now only purchase foreign currency in Iceland on proof of a valid travel ticket overseas, and firms must apply to the Central bank proving they want the money for essential foreign purchases such as food, fuel and medicine."
Thanks for that Euclid. In the future, could you put the source of a quote please? I found this at http://www.forbes.com/reuters/feeds/...-UPDATE-4.html

This is very scary news and don't want to just dismiss them as a knee jerk reaction from a country going bankrupt.

But I'm still asking. If the same measure was imposed on the U.S.A. How would for example, a company like Ford proceed if it was illegal for them to buy £'s but that it was needed to cover the payroll of their U.K. operations (just an example fellows).

Would they knowingly break the law?
Not all sins are created equal
  • #23
  • Last Post: Oct 13, 2008 12:26pm Oct 13, 2008 12:26pm
Quoting Jay Walker
Thanks for that Euclid. In the future, could you put the source of a quote please? I found this at http://www.forbes.com/reuters/feeds/...-UPDATE-4.html
Sorry. Saw it on FF front page - too lazy to post link. http://www.forexfactory.com/news.php?do=news&id=114535
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